Thanks Grover and Sid, much appreciated !! D, I read that article ( or a very similar one ) a couple of years ago, was quite surprised to learn that most of these IRA restrictions are still there because the *brokers* choose to leave them in place ( annoys me no end when other people, gov't, etc feel the need to protect me from myself 8 - )
For anyone interested, in addition to IB, Think Or Swim now also has a "restricted margin IRA" which appears similar to IB's as far as T+3 goes but seems to differ a bit when it comes to the highly leveraged stuff. FYI, I have pasted a couple of my communications with them below. Thanks again! Steve ****************************************************************** Hi Steve, Thanks for following up. In an IRA account we will allow you to trade any option strategy where the risk can be defined. That means credit spreads, calendars, irons, butterflies, diagonals, covered writes and even cash secured naked puts are fine with us. We can't allow for naked short calls or short stock, or futures/forex trading. Please let us know if we can be of further assistance. Sincerely, Adam Adam Evans Client Liaison 866 839 1100 773 435 3232 fax thinkorswim, inc. 600 west chicago avenue, suite #100 chicago, IL 60610 Member FINRA | SIPC | NFA trademark, all rights reserved ---------------------------------- This e-mail is sent by a financial firm and contains information that may be privileged and confidential. If you are not the intended recipient, please delete the e-mail and notify us immediately. -----Original Message----- From: Steve Dugas [mailto:[EMAIL PROTECTED] Sent: Tuesday, October 21, 2008 10:50 PM To: Support Subject: Re: Restricted Mergin IRA Thanks you Christian! Does the restricted margin IRA allow trading ( and shorting ) of futures? Steve ----- Original Message ----- From: Support To: Steve Dugas Cc: Client Support Sent: Thursday, October 16, 2008 10:55 PM Subject: RE: Restricted Mergin IRA Hi Steve, Thank you for the email. You are correct; the restricted Margin IRA allows you trade funds in you account without having to wait T+3 days for the trades to settle. Also, you will be happy to learn that we offer three free Mutual Fund trades per month. Feel free to contact us anytime. Best regards, Christian Christian West Client Liaison 866 839 1100 ext 6823 773 244 6823 direct 773 435 3232 fax thinkorswim, inc. 600 west chicago avenue, suite #100 chicago, IL 60654 Member FINRA | SIPC | NFA trademark, all rights reserved ---------------------------------- This e-mail is sent by a financial firm and contains information that may be privileged and confidential. If you are not the intended recipient, please delete the e-mail and notify us immediately. -----Original Message----- From: Steve Dugas [mailto:[EMAIL PROTECTED] Sent: Thursday, October 16, 2008 8:52 PM To: iraaccounts Subject: Restricted Mergin IRA Hi - I see that you have a restricted margin IRA. Is this similar to that of Interactive Brokers, where the margin is available to cover me during the trade settlement period so I do not have to wait 3 days to reverse positions? Thanks very much! Steve
